
Offshore Tax Havens Have Real World Consequences

Jake Bernstein, Pulitzer Prize-winning reporter, formerly at the International Consortium of Investigative Journalists (ICIJ) and now the author of Secrecy World: Inside the Panama Papers Investigation of Illicit Money Networks and the Global Elite (Henry Holt and Co., 2017), talks about his investigative reporting that helped break the Panama Papers story and what happens to individuals when the richest people avoid paying taxes by hiding their money off shore.
"It's estimated," Bernstein says, "that between 35 and 70 billion dollars is missing from taxes annually around the world, and 752 billion for corporations." The real world consequences for tax avoidance are all around us: "It's infrastructure, it's police, it's all sorts of social services and healthcare."